RI Executive Spotlight- Adam Parks

Adam Parks is a successful entrepreneur with a passion for marketing, technology, the ARM industry, and doing business with the utmost integrity. In his role as Chief Marketing Officer at Plaza Services, LLC, Adam is responsible for communications, marketing, and finding new opportunities to purchase portfolios. He often participates in other types of internal projects that draw from his consulting experience which he gained from working in various roles around the industry over the last 15 years.

My favorite part of working with Plaza Services is the people; I respect their professionalism and share their commitment to the highest standards of quality. Before joining the company, I had the opportunity to work with the leadership team in several different capacities. While I was with ComplyARM, I helped to draft Plaza Services’ policies and procedures which gave me a good insight into various areas of the business. I love that I can be proud of the company that I represent because they do business the right way.

The evolution of communication mediums has my attention right now. As an industry, we are hoping the highly anticipated CFPB rules will give us clarity into how we can communicate with consumers in the future and better address their preferences. The antiquated FDCPA communication rules did not anticipate the use of text messaging, email, or social media which have long been the preference of many consumers.

There is a lot of opportunity in the industry over the next 5 years. The improvements in Artificial Intelligence will offer better experiences for the customers while minimizing costs. I expect to see the quality of these technologies improve dramatically over the next 5 years as they collect and analyze more data, allowing for more accurate operations of those tools. Learning algorithms get better over time. I can only imagine how these technologies will advance over the next 5 years.

I define my personal success through happiness and growth. Do what you love and always be learning.

“The difference between confidence and arrogance is listening.” You can be both confident and a good listener at the same time.

This is a very small industry. Do fair and honest deals, and this business can be an incredible opportunity. You can quickly build relationships by always following through on your commitments.

I am most proud of my work on the RMAI Board of Directors. In that role, I have found opportunities to effect positive change across the industry while gaining incredible experiences that have improved my understanding of our country’s regulatory framework. Volunteering comes with some responsibility and a lot of hard work, but I am truly proud of all the things we have accomplished in my time working with the association.

There is one podcast that I listen to regularly. My friend and attorney Dara Tarkowski has a Podcast called “Tech on Reg” that discusses the intersection of law, technology, and regulation. I’ve lived at that intersection for nearly 10 years and always find valuable nuggets of information in each episode.

In addition to Plaza Services and my other businesses, I often work as a firearms instructor. I have been a certified instructor for rifle, pistol, and shotgun for many years and I regularly teach and take classes related to those disciplines. If I were to do any other job outside of our industry for just one day, it would be as a firearms instructor.

One of my favorite things to do is to go scuba diving. For those who follow me on LinkedIn, Fish Friday showcases incredible creatures that we find under the Blue Heron Bridge in West Palm Beach, FL. The videos include everything from seahorses to stingrays and many types of fish. Check out some of the videos on our YouTube channel.